Univision to cut staff at The Onion

Univision to cut staff at The Onion
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Univision will cut 15 percent of the staff at several publications where it owns a controlling stake, including satirical news site The Onion, according to a Friday report. 

The Daily Beast reported that sources familiar with the situation say The Onion, Clickhole, The A.V. Club and online food site The Takeout, which are all majority owned by Univision Communications Inc., would be hit by the layoffs.

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It's the latest troubling news at Univision following a failed attempt to take the company public.

The company first floated an initial public offering in 2015 but scrapped those plans in March of this year amid revenue struggles. The media company's CEO, Randy Falco, stepped down in March 2018 after announcing his retirement. 

Univision began offering buyout packages to staffers at Gizmodo Media Group last month, according to a Bloomberg report. 

Univision is Gizmodo's parent company, whose offerings include online sports publication Deadspin and Jezebel. 

The Onion was founded in 1988 as a print publication and switched to a digital-only platform in November 2013.